ECONOMY

Azerbaijan ranks 47th among 188 countries in Global Startup Ranking

AzerTAg.az

Azerbaijan has ranked 47th among 188 countries in terms of startup friendliness, according to a new list published by the Global Startup Ranking. The list includes names of 200 startups based in Azerbaijan.

Azerbaijan, which ranks third among the CIS countries, is far ahead of its neighbors. Armenia ranks 102nd with 13 and Georgia 118th with only 5 startups launched in their countries.

The United States secured top spot with 46,625 startups, followed by India (6,324), the United Kingdom (4,929), Canada (2,513) and Indonesia (2,105). Among the CIS countries, Russia ranks 19th with 569 and Ukraine 43rd with 241 startups.

The Global Startup Ranking annually publishes a list of the startups in the world in order to understand what categories of business are trending and in what countries they originate.